Oil prices rose to their highest in seven weeks on Wednesday as U.S. President Donald Trump said a deal had been done with China, heightening expectations of a de-escalation in trade tensions between the world's two largest economies.

The military strikes jolted investors, raising concerns that a broader Mideast conflict would disrupt the world’s energy supplies.

Rather, it is geopolitical factors—specifically, escalating tensions in the Middle East—that are unsettling markets and pushing prices higher.

Oil prices rose to a seven-week high on Wednesday as markets assessed the outcome of U.S.-China trade negotiations, while pessimism over U.S.-Iran nuclear talks also provided support. Brent crude futures were up 82 cents,

Nigeria’s naira rose for a seventh day to a two-month high against the dollar on Tuesday amid higher oil prices and as investor concerns over US trade tariffs eased.